Daily Republican., 1887-09-02
JHE II a. .. DEAL.
vt Is said tho f<osd mas Been Pun
chssed By tho Drsxsl- Morgan syndi-
cate

u Is said tho stoHd Has Been Pur-
chssed By tho Drsxsl- Morgan syndi-
cate.
1t is believed In railroad circles that
there Ia mole Significance in the sale OF
tho bslti more and Ohio Express prop.
erty to tie United States Express Com
pany than appears on the surface. II
70 argued that II part of the property of
the Baltimore and Ohio Company has
been sole, the whole Is likely to be.
Tnere was rumor on Third street yes
tsrday to the effect that the Baltimore
and Ohio railroad had been purchased
By the Drexel. Morgan syndicate and
Was now under its control.
A member Of the frm Of Drexel &
Co., when questioned yesterday about
this .umor, said: "I can give yvu no
Information on the subject st all. This
m uch you can ray. We are not bnying
railroads, because we are not In tbst
business. As to the syndicate the
papers speak Of, can toll nothir e. OF
course there may bo some kino of .
deal going on, and we may have some
interest In the syhdi ,ate referred to, but
We can give you 10 definite inf)rma. ,.
tion about 1t at present."
II is said that just be fore Mr.. Garrett
went abroad fer the purpose Of obtain
Ing assistance 20 carry ont his various
schemes, he was brought face to face
with some very heavy interests witch
were opposed to his policy. Tho Drexsl-
Morgan syndicate having brought the
Pennsylvania and New York Central
Railroads into harmonious relations,
and helped to consolidate the Reading,
expressed to Mr.. Garrett O desire to
bring the Baltimore and Ohio into
harmony with the other roads. The
first proposition made by tho syndicate
was that Mr.. Garrett should not make
any further leans. The railroad mag
nate is said to have been persuaded BY
the syndicate Into their way OF think
ing, and agreed to retire from the man.
agement Of the road. Presto ent Gar.
rett, IT 10 raid, will be succeeded by q
well-kuown railroad man.
A prominent official OF the PeuneyI-
vAnia Railroad made this staten ent
yesterday regarding the reported pur-
chase OF the Baltimore and Ohio:
"rhere is absolutely NO truth In the
report. All know about It is what
have read IN the papers to dsy. The
Pennsy lvania Railroad has not only
not negotiated for the purchase Of the
Baltimore and Ohio, but no overtures
looking to purchase have been made
BY us. We have no interest whatever
In any syndicate of the character
named. We would not object, how.
ever. to seeing the road pass under the
management Of people who would work
In harmony with u.s."
A dispatch from New York states:
IA report was current on the Stock Ex.
change to-day said to emsnats from o
director Of the Pennsy lvsDis Railroad
to the effect that the Baltimore and
Ohio paper taken up yesterday was
only renewed. Another report said that
an agreement has been made between
j. 8. Morgan and A. ]. Cassatt and
r 1bsrt Garrett for the transfer Of q ma
jority OF the Baltimore ard Uhio Rail.
road stock, In the interest OF . syndi'
cate In which the Pepnsylvania Rail
road and Jay Gould are said to bs
tquslly interested. According to thii
story the Western Union will Absorb
the Baltimore and Ohio telegraph lines
and the Pullman Car Company The
Baltimore and Ohio palace car sys
tenn
Another dispatch states that g o.ge
Gould denies that the Western Union
Company has an intention OF purchas
ing the Baltimore and Ohio Telegraph
Company.